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Reuters
Qatar National Bank (QNB) has closed the syndication of a 2.25 billion euro ($2.50 billion), three-year loan, it said on Sunday.
The loan facility, in which 14 banks participated, was increased from 1.5 billion euros due to “strong market over-subscription”, QNB said in a bourse statement.
The loan’s annual interest rate is EURIBOR plus 1.05 percent. The money will be used for general corporate purposes, it added.
QNB is a Qatari commercial bank headquartered in Doha. As of 2014, it is the second largest bank in Africa and the Middle East in terms of assets. Currently it has subsidiaries and associates in 27 countries spanning three continents and the bank’s ownership is evenly divided between the Qatar Investment Authority and the private sector.